Floods in Australia lift wheat prices

In Australia, flooding in the eastern states is keeping prices strong for quality grain, with premium wheat (APW1) prices going beyond $450 a tonne in multiple locations.

Mr Voznesenski said global grain supplies were tight and the market was watching Australia closely.

“We just need the rain to finish and the floods to recede to actually be able to quantify how much of an impact all of these weather events have had,” he said.

“Once that’s known, international markets will adjust accordingly.”

Tags: Australia, prices, wheat